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Merchandise Inventory is classified on the balance sheet as a a. current asset OL long-term asset c. long-term liability d. current liability Which of the

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Merchandise Inventory is classified on the balance sheet as a a. current asset OL long-term asset c. long-term liability d. current liability Which of the following is not a difference between a retail business and a service business? a. the inclusion of gross profit on the income statement b. what is sold by the business c. the inclusion of merchandise inventory on the balance sheet d. elements of the accounting equation

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